Dai Price - DAI/USD : $1.01222
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What is Dai (DAI)?
Dai (DAI) is a decentralised stablecoin that is created and governed by MakerDAO (MKR). Dai is pegged to the US dollar on a 1:1 ratio. Unlike other USD stablecoins like USDT and USDC whose value is directly backed by USD, Dai is backed by crypto collateral like Ethereum that is publicly viewable on the Ethereum blockchain.
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How we treat client assets
No commingling of customer funds: we keep client assets completely separate from our own.
1:1 reserves
We maintain a full 1:1 reserve of all client fiat and crypto assets.
We hold the vast majority of crypto assets in secure offline cold storage, protected in underground vaults with maximum security.
Audited
Our books are balanced and we carry no debt on our balance sheet. We engage external auditors to undertake an annual audit of our financial statements in accordance with Australian Accounting Standards. This includes verification of all fiat and crypto balances held in custody on behalf of clients.
Segregated funds
We do not commingle customer funds. We maintain complete segregation of all client assets to ensure that when you need to make a withdrawal you can.
We keep your assets safe. That is our promise.
Sole custodian
Independent Reserve is the sole custodian of all crypto assets held on our platform. Custody is managed in Australia and we do not use any third party custodians.
We adhere to industry best practices and never lend or trade your assets.